SP downgrades Moody's

http://blogs.telegraph.co.uk/finance/tracycorrigan/100006756/why-sp-is-worried-about-moodys-and-vice-versa/

In an ironic twist, S & P is downgrading Moody's, which signals the beginning of a mutual cannibalization frenzy among the 3 credit ratings agencies (Fitch being the other). They all enabled and perpetuated the financial Ponzi schemes by assigning AAA credit ratings on worthless, toxic mortgage-backed securities, but the government did nothing to disembowel them. They also missed on the financial collapse and insolvency of major banks. It's ironic because while the government didn't kill them off, they will do it to each other.